Quote:
Originally Posted by RezZ
There have been MANY recessions, but as I stated only a few depressions. (not interchangeable at all) When a recession is bad enough to effect the GDP and everyone's pocketbook severely it should be considered a depression.
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There has only been one depression. A depression, by definition, is a very long economic downturn (an entire decade for instance.) We have only gone through this one that was the Great Depression. There has been no other economic depression in United States history.